Joint Statement by Daimler AG and Rolls Royce Group plc regarding the reasoned opinion by Tognum AG
OFFICIAL PRESS RELEASE
Stuttgart, Germany, Apr 15, 2011
Daimler, the global automotive company, and Rolls-Royce Group plc, the global power systems company, are pleased that both Tognum’s Supervisory Board and Board of Management recognise the compelling strategic rationale of the proposed transaction, as indicated in the statement they have issued today.
However, Rolls-Royce and Daimler do not share Tognum’s view that the offer price is not appropriate. The offer we have made has a compelling industrial logic and the combination of Tognum with the Daimler and Rolls-Royce joint venture represents the best prospect for accelerating long-term growth and is in the best interest of Tognum, its customers, shareholders and employees.
The offer of €24 per Tognum AG share represents a premium of 30% over the undisturbed share price and we continue to believe that it fully and attractively values the company and its future prospects. In addition, as stated before, shareholders who tender their shares will retain their right to the dividend for the financial year 2010.
Copyright © 2011, Mercedes-Benz-Blog. All rights reserved.